You own a portfolio that is 20 percent invested in Stock X, 35percent in Stock Y, and 45 percent in Stock Z. The expected returnson these three stocks are 8 percent, 11 percent, and 13 percent,respectively.

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What is the expected return on theportfolio? (Do not round intermediatecalculations. Enter your answer as a percentagerounded to 2 decimal places (e.g.,32.16).)

Expected return onthe portfolio

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